BAKU, Azerbaijan, November 12. The selection of a consulting company for the Central Asia-Azerbaijan Green Energy Corridor project is nearing completion, the Azerbaijani Ministry of Energy told Trend.
The ministry noted that the process of selecting a consulting company for the purpose of conducting a feasibility study for the project is ongoing.
Besides, the ministry emphasized that after the process, which is scheduled to be completed in the near future, a contract will be signed with the selected company, and the feasibility study is planned to begin by the end of the year.
The ministry also pointed out that within the framework of the memorandum signed in April of this year, an agreement was reached to allocate a total of $2 million by the Asian Development Bank and the Asian Infrastructure and Investment Bank to finance the feasibility study of the project.
"The Central Asia-Azerbaijan Green Energy Corridor project, implemented based on an agreement reached between Azerbaijan, Uzbekistan, and Kazakhstan, is one of the initiatives of strategic importance in terms of energy export in the region.
The integration of this project into green energy corridors such as Caspian-Black Sea-Europe, Azerbaijan-Türkiye-Europe, and Azerbaijan-Georgia-Türkiye-Bulgaria will play an important role in directing the region's renewable energy potential to the Turkish and European markets, coordinating intercontinental production and consumption centers, as well as effectively managing energy variability," the ministry added.
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